Insurance Companies Act
Marginal note:Restriction of claims
595 The liability of a foreign company under a policy in Canada or for an amount in respect of which a segregated fund is maintained pursuant to section 593
(a) does not, except to the extent that the assets of the fund are insufficient to satisfy a claim for any minimum amount that the foreign company agrees to pay under the policy or in respect of the amount, give rise to a claim against any assets in Canada of the foreign company, other than the assets of that fund,
(b) to the extent that the assets of the fund are insufficient to satisfy such a claim, gives rise to a claim against the assets in Canada of the foreign company, other than the assets of that fund, that has the priority referred to in subsection 161(2) of the Winding-up and Restructuring Act.
- 1991, c. 47, s. 595
- 1996, c. 6, s. 167
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